Contributions to Structural Modeling and Estimation
The first chapter of my thesis develops and estimates a dynamic
structural partial equilibrium model of schooling and work
decisions. The estimated model explicitly accounts for the
simultaneous choice of enrolling in school and working. It also
allows for endogenous leisure choices, intertemporal
nonseparabilities in preferences, aggregate skill specific
productivity shocks, aggregate consumption price effects, and
individual heterogeneity. Times spent on schooling, working, and
leisure are treated as continuous choice variables. The estimated
model is solved and two counterfactual simulation exercises are
performed. The first is the case where a subsidy is given to
individuals who enroll in school and do not participate in the labor
market. The second is the case where the demands of the school
curriculum are increased so that a young man enrolled in school
necessarily spends more time studying. The conclusion is that the
latter policy is more effective in enhancing educational
achievements and future wages.
The second chapter of my thesis develops a semiparametric estimator
for a dynamic nonlinear single index panel data model. Flexibility
of the model is achieved by assuming that the index function is
unknown. Flexibility in individual heterogeneity is achieved by
assuming that the individual effect is an unknown function of some
observable random variable. The paper proposes an algorithm that
estimates each of the finite and infinite dimensional parameters. In
particular, the full data generating process is estimated. This is
important if the predicted outcomes are used as plug-in estimators,
as in the multistage estimation of dynamic structural models.
The final chapter of my thesis develops a powerful new algorithm to
solve single object first price auctions where bidders draw
independent private values from heterogeneous distributions. The
algorithm allows for the scenario in which groups of symmetric and
asymmetric bidders may collude, and for the auctioneer to set a
reserve price. The paper also provides operational univariate
quadratures to evaluate the probabilities of winning as well as the
expected revenues for the bidders and the auctioneer. The expected
revenue function is used to the compute optimal reserve under
asymmetric environments.
Year of publication: |
2007-09-26
|
---|---|
Authors: | Gayle, Wayne-Roy |
Other Persons: | Holger Sieg (contributor) ; Mehmet Caner (contributor) ; Robert Miller (contributor) ; Jean Francois Richard (contributor) ; Soiliou Namoro (contributor) |
Publisher: |
PIT |
Saved in:
freely available
Saved in favorites
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